At the request of the Vermont Bankers Association, the American Bankers Association Foundation today announced that it will start collecting tax-exempt contributions through its Disaster Relief Program website to help aid relief efforts after a major storm resulted in catastrophic flooding in the state on July 11. The flooding has devastated cities and towns in Vermont, left hundreds homeless and claimed at least one life. It has also caused significant damage to homes and businesses, including several bank branches and the homes of bank employees.
ABA announced that it will lead the fundraising effort by contributing $25,000 through the foundation’s Disaster Relief Program. Donations will be accepted until Aug. 28.
“It’s devastating to see the damage sustained by communities throughout Vermont,” ABA President and CEO Rob Nichols said. “Banks throughout the state are already working to support customers and communities in need. Activating the ABA Foundation’s Disaster Relief Program will allow the entire banking industry to contribute to relief efforts and help Vermonters rebuild and get back on their feet.”
State bankers associations can request ABA Foundation assistance after a presidentially declared disaster in their state. If the request meets certain criteria and is approved by the ABA Foundation’s board, it can solicit donations nationwide on the state association’s behalf. The state association is responsible for identifying qualified recipients for all funds raised.